MIGA gives Ukraine $30 mln for pilot project in investment insurance - PM Shmygal

MOSCOW. Oct 25 (Interfax) - The Multilateral Investment Guarantee Agency (MIGA) has provided $30 million to Ukraine to help it implement a pilot project in investment insurance, Ukrainian Prime Minister Denis Shmygal said.

"The government of Ukraine is committed to promoting the leverage of investment and is reducing intervention of the state in the economy," the Ukrainian government's press service quoted Shmygal as saying following the opening of the 5th Ukrainian-German Economic Forum in Berlin.

The prime minister said that Ukraine is working to minimize risks for investors and has already established cooperation with MIGA, according to Ukrainian media.

"MIGA has disbursed $30 million to Ukraine for the implementation of a pilot project in investment insurance. We will continue and will build on this activity with all insurance agencies in Europe and the world," he said.

Ukraine also expects that the International Finance Corporation will submit a package of financial assistance, which is intended to attract investors, to the World Bank's Board of Directors for approval, Shmygal said.

In order to promote investment, Ukraine has resumed privatization, is deepening deregulation, and is creating conditions for quick investment, Shmygal told.

According to Denis Shmygal, Ukraine has formed a broad investment menu - more than 500 investment projects and opportunities in ten sectors of the economy with a total potential of more than $400 billion," the report said.